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What Is AXES And Why Do They Claim To Be The #1 Online Broker?


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What Is AXES And Why Do They Claim To Be The #1 Online Broker?

As I was searching for a better FX broker online, I saw their banner ad and decided to check out their website and inquire about what they can offer. Here is my review…

I have been meddling with financial trading for almost a year now and I would like to start this review with verisimilitude — I am no guru in the world of financial or stock trading. But I have my own fair share of experiences and I am currently enrolled in a continuing education to further understand the dangerous (yet bountiful) tides of the market.

As I said — I was searching for a broker online. I have been to 4 FX brokers in the past months but I wouldn’t name them here. I saw AXES banner on one of the crypto sites I was frequenting and it read (not in verbatim) — “Join The World’s №1 FX Broker Today”.

Now this is such a lavish claim since:

1. I only knew the firm just now and I haven’t heard of them since the day I started in the markets. Surely, the last 4 brokers I was with were more popular, right?

2. They were not mentioned in all the online courses and forums I attended. (Post in the comments if you have heard of them before)

SO, WHY SUCH CLAIM?

I took the initiative in opening a demo account. They only offer the MT5 platform, which I never tried before (I trade on the MT4), and I was feeling adventurous that day. I traded for 3 days practicing my bounce and counter-retail strategies and also to test the spreads per currency majors (I steer away from the minors at the moment) and THE SPREADS ARE TIGHT!

As I was getting the hang of the freshness of the MT5 platform I decided to try and contact them before I deposit some real money on an account. I was scheduled a Whatsapp voice call (I told them I will never be ready for a video call during quarantine period). It was a pleasing and informative 30-minute chat as they gracefully answered all the questions and clarifications that I have given them. This is where I learned the background and history of AXES.

The company started as a B2B Broker. This means that they were only catering to market giants, big companies or institutions before. It was not until 2018 when they started rebranding and expanding their services to cater to online retail and institutional traders. They got their accreditation and certification this year, 2020, from the FSA and IFMRRC and that’s when they started their aggressive marketing campaigns.

What separated them from the prevailing online brokerage firms? They flatly told me that they offer NO BONUSES or GIMIKS upon sign-up or deposit. Although this may seem as a bad marketing strategy for a new player in the online world of market trading it was made clear to me what their true intentions were — TRANSPARENCY AND FAIRNESS.

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They do not offer deposit bonuses or high leverages because of one reason that stuck with me — THE PSYCHOLOGY OF RISK MANAGEMENT. They do not want to give their clients the illusion of high stake because this will mostly lead to irresponsible and decisive capital handling which leads to capital loss. It was, in fact, a good point to ponder. They want their clients to earn with only what they can wager and how they play it in the market — NO PADDING. NO HANDICAP. NO COMMISSIONS.

That’s right. No commissions. Yet they have the tightest spread starting for a maximum of 1 PIP for the STANDAR ACCOUNT which has a minimum of 100 USD deposit, maximum of 0.5 PIPS for the PRO ACCOUNT which has a minimum of 500 USD deposit, and last the VIP ACCOUNT which has a minimum deposit of 50,000 USD, 0 PIP Spreads and is recommended for institutions or big companies.

THE VERDICT

I believe I have already written too much to exhaust a reader so Ill just hand down my verdict.

Is AXES the world’s #1 Online Forex Broker?

Well this remains to be seen to be honest, but they are one of the best so far.

Are they trustworthy and legitimate?

YES

But as I have said earlier I am no market wizard or guru, so you can at least try to open a demo account first with them to test the waters HERE and tell us what you think of this firm.

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